The Value of CIRI Membership - Advocacy

On June 29, CIRI submitted comments to the Canadian Securities Administrators (CSA) on Proposed National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. We are supportive of the efforts of the CSA to address the concerns raised by respondents to the initial Notice and believe that the 2020 proposed instrument represents a significant improvement over the 2018 version. 

One area of concern we raised was the inability to incorporate information by reference in a news release. For example, the Proposal indicates that non-GAAP financial measures in a news release must be reconciled to the closest GAAP financial measure in the news release itself, rather than referencing and linking to the reconciliation in the MD&A. 

Click here to read the full submission.

Should you have any comments and/or questions pertaining to this or other IR-related issues, please contact Yvette Lokker.